With the increasing popularity of cryptocurrencies number of scammers has attracted investors. Here are some common ways by which scammers hit investors and precautions to avoid them.
Common Cryptocurrency Scams
The cryptocurrency market is full of half-knowledge investors, irregularities and risks. Many people assume cryptocurrency is a shortcut to get easy money, such mindset gives the opportunity to scammers. We have listed below the most common types of scams.
Fake Mobile Apps
Scammers may also attack your assets by fake mobile apps. Before downloading any mobile app view the number of downloads to check legitimacy. Prefer to download the app from the official website. Check the spelling properly because of scammers imposter fake apps with almost similar spelling.
Lucrative Offers On Social Media
Never fall for lucrative offers on social media. If you see too good to be true offer on social media posted by any celebrity or influencer, you can never be sure that it is a real account or some scammer is behind it. Many people have lost their assets by believing such fraud messages or tweets.
If you find an Email from lookalike genuine cryptocurrency company, don’t take any action immediately. Once or more we often receive E-mails that appeal to you to claim the lottery or giving some lucrative offers. Never trust any Email unless you verify it by an authorized company.